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Interswitch Group, Bekoz UK sign GBP56 million agreement to enhance ticketing, Nigeria [free access]

May 3, 2019

Nigeria-based digital payments company Interswitch Group and UK-based Bekoz UK Limited have signed a GBP56 million agreement to enhance ticketing for transport in Nigeria and have unveiled three products for the same. The products are BeCard, a public transport card similar to Oyster card in London; BeVal, a card reader; and BeReader, a mechanism to support BeCard and BeVal. The products will be deployed on buses, trains, and ferries in Nigeria. The companies also plan to expand these products to other parts of Africa.

 

Interswitch Group and Bekoz UK Limited have jointly developed the technology and Denmark-based Delta Microelectronics has developed the specifications and manufactured the products.

 

(1 GBP [British Pound] = 1.30 USD)